Mumbai, March 6 The Maharashtra government announced on Friday a crop loan waiver of up to Rs 2 lakh for eligible farmers in the budget for 2026-27, and said the "Ladki Bahin Yojana" (scheme for poor women) would continue with adequate funding.
Chief Minister Devendra Fadnavis, who holds the finance portfolio, presented a state budget of Rs 7,69,467 crore in the assembly, and said that Maharashtra would become a $5 trillion economy by 2047.
He announced a loan waiver scheme for farmers, under which crop loans of up to Rs 2 lakh until September 30, 2025, would be written off.
The "Punyashlok Ahilyadevi Holkar Shetkari Karj Maafi Yojana" would benefit farmers, Fadnavis said, adding that there would be a Rs 50,000 incentive for other eligible farmers who make regular loan repayments.
Fadnavis, who became the first chief minister of Maharashtra to present a budget, announced that the "Mukhyamantri Majhi Ladki Bahin Yojana," launched in 2024, would continue, and that the scheme, under which eligible women receive Rs 1,500 per month, would be adequately funded.
He said that villages with a population of more than 1,000 would be connected by concrete roads.
Fadnavis said that revenue receipts were estimated at Rs 6,16,099 crore, and revenue expenditure at Rs 6,56,651 crore.
He said that the revenue deficit was estimated at Rs 40,552 crore.
The fiscal deficit for 2026-27 is estimated at Rs 1,50,491 crore, he said, adding that the government had been successful in keeping the fiscal deficit below 3 per cent of the GSDP.
The CM maintained that the state's revenue deficit consistently remained below 1 per cent of the GSDP.
Fadnavis fondly recalled former state finance minister Ajit Pawar, who passed away in an air crash in January. A fitting memorial would be set up for the late NCP leader, the CM added.
There were emotional scenes in the Lower House as Fadnavis stood up to present the budget. As he rose to begin the speech, members in the House raised slogans of "Ajit Dada Amar Rahe," paying tributes to the late leader.
After Pawar's death, Fadnavis has been holding the finance portfolio.
